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Murrey Math and Quantum Method

  • #981
  • May 22, 2017 3:13am May 22, 2017 3:13am
Quoting Masterrmind
Watchlist GBPCAD GBPCHF NZDCHF Masterrmind............
Morning Mastermind, this video as caught my interest been looking to see if it as any merit attaching the price pattern to a Murrey chart, checking down the timeframes as an exercise to see if it could act as a reliable entry method, have you any experience of this price action pattern ?
Inserted Video
  • #982
  • May 22, 2017 3:53am May 22, 2017 3:53am
May be a hindsight signal but it fits (MM64 128 ) 60min EU
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  • #983
  • May 22, 2017 4:09am May 22, 2017 4:09am
Quoting tanwt
{quote} Hi Mastermind, where can i get this dashboard?
Its been posted in the thread several pages back.

If you click on the paperclip icon top right of page you will find it in the list.

Masterrmind........
Master your Mind then Master your Trades
  • #984
  • May 22, 2017 4:10am May 22, 2017 4:10am
Quoting OAPDave
{quote} Morning Mastermind, this video as caught my interest been looking to see if it as any merit attaching the price pattern to a Murrey chart, checking down the timeframes as an exercise to see if it could act as a reliable entry method, have you any experience of this price action pattern ? https://www.youtube.com/watch?v=w-cY...ature=youtu.be
I will be sure to check it out later.

Thanks for posting it.

Masterrmind........
Master your Mind then Master your Trades
  • #985
  • May 22, 2017 4:21am May 22, 2017 4:21am
Quoting OAPDave
May be a hindsight signal but it fits (MM64 128 ) 60min EU {image}
From what I have seen so far I think a maual trading approach using MML levels is the way to go.

But when taking trades against the trend at extreme MML levels a hard stop placed at 50% of the octave gap or at most the full octave gap is tge way to go.

This MML indicator does produce some very good zones in advance of the fact and is ideal.

However, with any manual trading approach some discretion is required and the all important money management is key here.

I think a trader could do quite well if they resist the temptation of hanging on too long to trades tgat decide to continue hard in line with the trend.

A relatively smaller ratio between lot size and balance (equity) provides a little cushioning in trades left on the table longer but eventually they may need to be closed out.

The 2 EU shorts I have running now come to mind.....

All in all I think the levels can work rather well.

Masterrmind........
Master your Mind then Master your Trades
  • #986
  • May 22, 2017 8:57pm May 22, 2017 8:57pm
Quoting OAPDave
{quote} Morning Mastermind, this video as caught my interest been looking to see if it as any merit attaching the price pattern to a Murrey chart, checking down the timeframes as an exercise to see if it could act as a reliable entry method, have you any experience of this price action pattern ? https://www.youtube.com/watch?v=w-cY...ature=youtu.be
I've had a good look over some of his material and noted the following:

1. Tends to like simplistic chart patterns eg on D1 TF looking for say 2 bullish followed by 2 bearish candles to get into a short that lasts for weeks.
*I heard nothing about fundamental analysis in his video at all which is something the banks tend to thrive on in LT trading not simply the technicals.
2. Generally a longer term swing trader attempting to gain in the 300-500 pips range (very difficult to achieve on a regular basis!).
3. Does trade intraday but not his preferred strategy.
4. He mentions stop placement and trying to cut your losers short for say 6 pip loss but when trading on a D1 chart this is almost impossible as HTF setups dictate much larger stops since you would want your stop under (or above) recent swing lows (or highs).
5. Perhaps he has some of his verified trading history available but it was not obvious to me as to where it could be viewed.
6. All I saw on his website was screenshots and testimonials from "clients" mobile phone captures.

Anyway this is not about him so I'll stop at that!

In terms of the 2*D1 Up followed by 2*D1 Down and enter short for the MML I see no issue with this on the HTF setups however, if you wait for the closure of say the 2nd D1 bearish candle you have already missed potentially alot of the move. Unless ofcourse you drop to a lower TF within that D1 candle horizon and look to enter from MML on a lower TF such as M15.

Especially if a trader had simply got into the short as soon as the last bullish push up to the MML zone had completed ... this is when you would want to enter into the trade and apply a modest stop .... which is price continues to move up would take you out but at least you have the opportunity to re-enter short again upon additional chart analysis.

One idea might be to look for this D1 reversal pattern but to then drop to a lower TF searching for a suitable setup to trade in the short direction of the pair in the case where the last 2 D1 candles were red (bearish) .

I simply see this move as a potential transfer of strength from the bulls to the bears (or bears to the bulls) and if the longer term suggested a short setup ten I'd drop to say an M15 TF and look at a trade setup that moves in sync with the D1 TF.

Perhaps this has some merit in it.....

Lets find out.

ps. I'll post some D1 Chart setups say on the GBP pairs (as I know these are your favorite trading symbols) which should not take that long to find.

pps. I'll also be looking at the historical data on these type setups and searching for the reasons why some fail "Would the D1 candle range have anything to do with it?".

Good trading,

Masterrmind.............
Master your Mind then Master your Trades
  • #987
  • May 22, 2017 9:30pm May 22, 2017 9:30pm
Watchlist

EURCAD
GBPCAD

GBPCHF
NZDCHF

GOLD

Masterrmind............
Master your Mind then Master your Trades
  • #988
  • May 22, 2017 9:43pm May 22, 2017 9:43pm
Quoting OAPDave
May be a hindsight signal but it fits (MM64 128 ) 60min EU {image}
GBPCAD D1 Chart

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2 red followed by 2 blue

Potential (in hindsight) long setup.

Would have worked out very well on this occasion.

Note on this pair that recent PA has not shown very many 2 + 2 setups but when it did the trend continued for multiple days.

The difficult part might be in how to best trail your trade.

Interesting!

ps. Just noticed that there is also a setup several days prior to the one I showed on the chart which was also to the long side and would have been a clear winner to the upside.

pps. Note that on both these examples that the market came back down to retest the recent lows which would have offered an even greater risk reward trade if the trader was patient enough to wait. The downside of this however, is that the market does not drop down to retest and you miss the trade!

Masterrmind............
Master your Mind then Master your Trades
  • #989
  • May 23, 2017 12:43am May 23, 2017 12:43am
Quoting Masterrmind
{quote} GBPCAD D1 Chart {image} 2 red followed by 2 blue Potential (in hindsight) long setup. Would have worked out very well on this occasion. Note on this pair that recent PA has not shown very many 2 + 2 setups but when it did the trend continued for multiple days. The difficult part might be in how to best trail your trade. Interesting! ps. Just noticed that there is also a setup several days prior to the one I showed on the chart which was also to the long side and would have been a clear winner to the upside. pps. Note that on both these examples...
Just to clarify....

The SL only needs to be 20 pips or so below the low of the 4 candle cluster.

On a D1 Chart setup Id look for a slightly greater stop based on assigned risk per setup.

I indicate risk per setup because my intention would be to average into the trade with a possible 2 longs.

Trade 1 at the close of the 2nd bullish candle
Trade 2 at the possible retest of the 4candle low ... a buy limit order could be applied if preferred.

What would be useful is an indicator that identifies both long and short 4candle setups on a D1 Chart.

Then a 4candle dashboard that displays user preferred symbols in a column and which ones are setting up and in what direction...perhaps simple enough.

Then perhaps have the dashboard apply multiple TFs eg H1, H4, D1, W1 and perhaps MN.

Food for thought.

Masterrmind.........
Master your Mind then Master your Trades
  • #990
  • May 23, 2017 2:52am May 23, 2017 2:52am
Quoting Masterrmind
{quote} GBPCAD D1 Chart {image} 2 red followed by 2 blue Potential (in hindsight) long setup. Would have worked out very well on this occasion. Note on this pair that recent PA has not shown very many 2 + 2 setups but when it did the trend continued for multiple days. The difficult part might be in how to best trail your trade. Interesting! ps. Just noticed that there is also a setup several days prior to the one I showed on the chart which was also to the long side and would have been a clear winner to the upside. pps. Note that on both these examples...
As usual thanks again for the thoughtful and in depth reply, I agree with what you have said, my thoughts were, if it turned out to be a decent solid signal we as you have said just drop down timeframes and trade the pull backs off preferred Murrey levels in the same signal direction, if we have to layer in it would not be so much of a problem as we have solid S/R at a near given level.
ps They may perhaps fail from time to time if they appear in OB/OS (+/- 1/8th or 2/8ths) on a Murrey Big dog chart (MM64 on a 256 daily chart)
  • #991
  • May 23, 2017 3:08am May 23, 2017 3:08am
Quoting OAPDave
{quote} As usual thanks again for the thoughtful and in depth reply, I agree with what you have said, my thoughts were, if it turned out to be a decent solid signal we as you have said just drop down timeframes and trade the pull backs off preferred Murrey levels in the same signal direction, if we have to layer in it would not be so much of a problem as we have solid S/R at a near given level. ps They may perhaps fail from time to time if they appear in OB/OS (+/- 1/8th or 2/8ths) on a Murrey Big dog chart (MM64 on a 256 daily chart)
Yes I agree with you.

They may fail from time to time and this was 1 reason why I would open 1 position at half position size followed by another one if a retest occurred.

Could be a nice easy strategy with not alot of effort involved for a trader that prefers relatively smaller position sizes on trades that may take weeks to play out.

Nice easy position trading in combination with the MML.

Masterrmind.........
Master your Mind then Master your Trades
  • #992
  • May 23, 2017 3:17am May 23, 2017 3:17am
Quoting Masterrmind
{quote} Yes I agree with you. They may fail from time to time and this was 1 reason why I would open 1 position at half position size followed by another one if a retest occurred. Could be a nice easy strategy with not alot of effort involved for a trader that prefers relatively smaller position sizes on trades that may take weeks to play out. Nice easy position trading in combination with the MML. Masterrmind.........
I accept the power of the signal will diminish the smaller the timeframe looked at but looking to see if its good enough to scalp from level to level
  • #993
  • May 23, 2017 3:52am May 23, 2017 3:52am
Quoting Masterrmind
{quote} Yes I agree with you. They may fail from time to time and this was 1 reason why I would open 1 position at half position size followed by another one if a retest occurred. Could be a nice easy strategy with not alot of effort involved for a trader that prefers relatively smaller position sizes on trades that may take weeks to play out. Nice easy position trading in combination with the MML. Masterrmind.........
Found these ?
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  • #994
  • May 23, 2017 4:01am May 23, 2017 4:01am
Quoting OAPDave
{quote} Found these ? {image} {image} {image}
Cherry picked this one off a 60min
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  • #995
  • May 23, 2017 5:01am May 23, 2017 5:01am
Quoting OAPDave
{quote} Cherry picked this one off a 60min {image}
How would you decide on an initial TP level?

1. Once trade setup occurs determine SL, then based on number of pips set the TP to at least a 1 to 1 or better.

2. For a short set TP just above longer term support or resistance in the case of a long trade making sure a 1 to 1 at the mininum exists.

3. How about trailing?
ATR method that he used in the video? Hmmm.

Id probably look to lock in at BE + a few pips once price moved in my favor and was close to either a S or R area.

Or an MML level that matches with the trade setup.

Masterrmind..........
Master your Mind then Master your Trades
  • #996
  • May 23, 2017 5:19am May 23, 2017 5:19am
Quoting Masterrmind
{quote} How would you decide on an initial TP level? 1. Once trade setup occurs determine SL, then based on number of pips set the TP to at least a 1 to 1 or better. 2. For a short set TP just above longer term support or resistance in the case of a long trade making sure a 1 to 1 at the mininum exists. 3. How about trailing? ATR method that he used in the video? Hmmm. Id probably look to lock in at BE + a few pips once price moved in my favor and was close to either a S or R area. Or an MML level that matches with the trade setup. Masterrmind..........
Think I would need to see how many signals I get (Daily) then see the kind of moves (Length of moves in pips) then see if an average R/R could be found, but I think you would make a lot of money with perhaps just a 2 to 1 R/R ( the position of entry in reguards to MM) might be a factor, got to nip out now but have a look at that G/N both Daily and 60min, expand my reply this afternoon when I get back
  • #997
  • May 23, 2017 6:49am May 23, 2017 6:49am
Quoting Masterrmind
{quote} How would you decide on an initial TP level? 1. Once trade setup occurs determine SL, then based on number of pips set the TP to at least a 1 to 1 or better. 2. For a short set TP just above longer term support or resistance in the case of a long trade making sure a 1 to 1 at the mininum exists. 3. How about trailing? ATR method that he used in the video? Hmmm. Id probably look to lock in at BE + a few pips once price moved in my favor and was close to either a S or R area. Or an MML level that matches with the trade setup. Masterrmind..........
Can I just re-fresh your memory with a chart set up I posted way back when, think it might lend its self to this entry method well , saves the time and trouble dropping down timeframes ?
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  • #998
  • May 23, 2017 8:58am May 23, 2017 8:58am
Quoting Masterrmind
{quote} How would you decide on an initial TP level? 1. Once trade setup occurs determine SL, then based on number of pips set the TP to at least a 1 to 1 or better. 2. For a short set TP just above longer term support or resistance in the case of a long trade making sure a 1 to 1 at the mininum exists. 3. How about trailing? ATR method that he used in the video? Hmmm. Id probably look to lock in at BE + a few pips once price moved in my favor and was close to either a S or R area. Or an MML level that matches with the trade setup. Masterrmind..........
Mastermind, Been doing a little eye balling of Daily Charts searching for this signal method, I am finding that the best ones are coming when price moves into a new Octave (Daily) and its then has to be accepted or rejected either way it mostly then goes on to make the nearest new or old main MM Octave level
  • #999
  • May 23, 2017 12:32pm May 23, 2017 12:32pm
Update Video

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  • #1,000
  • May 23, 2017 1:14pm May 23, 2017 1:14pm
CAD/JPY has moved up about ~60 pips.

Currently short AUD/JPY based off nice 0/8->8/8 move with nice 15 min and 1 hr candlestick formations off 8/8. Up about 8 pips on it.
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